Over half the population of the UK have or have had a credit agreement of some sort whether it be a mortgage, loan, credit card and even store cards. When taking out a credit policy it is more than likely that you will have PPI otherwise known as payment protection Insurance.
Payment protection Insurance is paid and added to the policy should in the slim chance you are ever unable to make repayments due to unemployment or an accident. You do not have to have this insurance and should have been explained properly to you when taking out a loan agreement. In many cases it is not explained and many people agree that lenders are not explaining that the payment protection is optional and feel that they were persuaded into having the policy not knowing that if they ever did have to make a claim, it’s rather hard to do so. You could be paying up to 30% in Payment protection insurance on top of your loan so its worth while taking a look in seeing whether, like many more people in the UK you to can reclaim PPI.
To reclaim PPI is simple and straightforward. Before starting a complaint, take a look at statements. You can reclaim PPI whether you have an ongoing loan agreement now or in the past six to ten years. On your statements you will see payment insurance, loan protection, credit payment protection or something along these lines. Still don’t know whether you have it? Give your original lender a call; they will be able to tell you so ask for written proof of this. Once you have proof that you have or had been paying PPI, you definitely have a case to reclaim.
Mis selling of insurance complaints and reclaiming PPI is very high at present and there are many companies on the market to help you with your claim on a no win no fee basis [ Cancellation charges may apply only if the claim is cancelled after the 14 days cooling off period. The fee would be based on the work done at the time of cancelling at a rate of £120 per hour and up to a maximum total of £180]. Once you have done the initial stages to start your claim, these companies can do the rest for you. Reclaim your PPI today and you could have thousands owed to you within weeks.